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Tag: indonesiaa

  • Maybank Indonesia sells stake in WOM Finance to Reliance Capital Management

    Maybank Indonesia sells stake in WOM Finance to Reliance Capital Management

    Private lender Maybank Indonesia has sold all stakes in motorcycle financing firm Wahana Ottomitra Multiartha (WOM Finance) to Indonesian financial services provider Reliance Capital Management in a deal worth Rp 673.8 billion (US$50.71 million).

    Maybank announced on Thursday that it had signed a conditional share purchase agreement with Reliance Capital Management on Jan. 11 to sell 2.39 billion shares—equal to 68.55 percent stake—in WOM Finance.

    “The transfer of shares is one of the company’s strategic initiatives to maximize the company’s capital allocation and to streamline customer segmentation, so they can contribute to the optimization of the company’s resources,” Maybank wrote in a statement submitted to the Indonesia Stock Exchange (IDX).

    The share transfer is expected to be completed in the first quarter of 2017, after both companies fulfill all terms listed in the agreement.

    Data from Maybank said the automotive slowdown in the past few years had dragged down its own financial performance, as WOM posted poor results.

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  • New Tax Tariff for Online Retailers in Indonesia ?

    New Tax Tariff for Online Retailers in Indonesia ?

    The new regulation implies that those individuals and companies that generate revenue and profit through online retailing (including sales through Facebook or Instagram pages) are required to report their income and fulfill their tax obligations.

    In general, a corporate income tax rate of 25 percent applies in Indonesia. Small and medium-enterprises with an annual turnover below IDR 50 billion (approx. USD $3.8 million) obtain a 50 percent tax discount (imposed proportionally on taxable income of the part of gross turnover up to IDR 4.8 billion). In 2013, Indonesia’s Finance Ministry issued a regulation that set a one percent income tax tariff on individual and institutional taxpayers with an annual gross turnover below IDR 4.8 billion (approx. USD $363,636).

    However, the main problem for Indonesian authorities is that it faces difficulties to monitor transactions of the nation’s small and medium-sized businesses. Most of these businesses do not have legal entities or taxpayer identification numbers (NPWP).

    Meanwhile, the idEA estimates that Indonesia’s e-commerce retailers see an increase of at least 30 percent (y/y) in income during the Idul Fitri holiday (4 – 8 July 2016) as it detected a shift in consumer behavior. According to the idEA an increasing amount of Indonesian consumers prefer to shop online rather than visit offline stores.

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  • Indonesia becomes favorite destination for Chinese new year 2016

    Indonesia becomes favorite destination for Chinese new year 2016

    Chinas largest online travel agency, Ctrip.com, has revealed that Indonesia is one of the ten favorite destinations for Chinese tourists who want to celebrate Chinese New Year 2016 abroad.

    The ten favorite destinations based on the bookings made by the customers since mid January 2016 are Thailand, Japan, South Korea, Taiwan, Singapore, Hong Kong, United States of America, Indonesia, Malaysia, and Australia.

    Easy access in obtaining visas is one of the strong reasons they chose such countries, one of local media quoted the Publicity Manager of Ctrip, Yan Xin as saying here on Sunday.

    Indonesia ranked eighth of the ten countries that became the favorite destinations of Chinese tourists.

    Deputy of Sales affairs Director for the Asia Pacific Mission of the Indonesian Ministry of Tourism, Jordi Paliama said it was a good news to consider Indonesia as one of the Chinese tourists favorite destinations.

    “We would continue to improve our a variety and innovative promotions to attract more and more Chinese tourists,” he said in the event of “Indonesia Direct Promotion”, Beijing.

    The Ministry of Tourism has set a target of 200 visits of Chinese tourists for January-February 2016. It increased around 50 percent from the amount of 137,181 Chinese tourists visiting Indonesia at the same period in 2015.

    To increase the number of Chinese visits, the Ministry of Tourism also conducted a promotion programs in Wuhan, Shanghai, and Beijing.

    Ctrip.com estimated around six million Chinese people would spend their Chinese New Year holiday in foreign countries, starting from 7 February, with some 100 countries to be visited including Antarctic.

    East Asian countries such as Japan and South Korea remained the most popular destinations, while Singapore and Thailand became two Southeast Asian countries which attracted a lot of Chinese tourists during the celebration of the Year of Monkey.

    Around ten thousand Chinese tourists have been making reservations for holidays in Thailand, while some other preferred to choose Universal Studio, Singapore, to enjoy the warmth of tropical breeze.

    For a cruise tourism, around 90 percent of Chinese people chose to go to Okinawa and Kagoshima in Japan, and Jeju Island in South Korea.

    The Office of China National Tourism Administration (CNTA) reported that in 2015 there were 5.2 million Chinese people spent their Chinese New Year holiday abroad. The number was increased around 10 percent compared to the same holidays in 2014.

  • March 2016 solar eclipse to attract tourists to Indonesia

    March 2016 solar eclipse to attract tourists to Indonesia

    The rare and beautiful phenomenon of the total solar eclipse, forecast to occur on March 9, 2016, is expected to attract foreign tourists to Indonesia.

    Both domestic and foreign tourists are keen to visit Palembang, Belitung, Bangka, Balikpapan, Sampit, Palangkaraya, Luwuk, Palu, Poso, and Halmahera to witness the total solar eclipse.

    Head of the North Maluku Culture and Tourism Office Samin Marsaoly remarked in Ternate on Monday that dozens of scientists and several tourists from France will visit Halmahera to observe the total solar eclipse and simultaneously conduct research on the natural event that will occur in March 2016.

    “Boarding a special aircraft, the scientists, with a variety of advanced equipment, will arrive in Maba in East Halmahera to conduct a study on the total solar eclipse,” Marsaoly stated.

    He said hundreds of tourists from several countries had also informed the local culture and tourism office of their interest to witness the total solar eclipse in March next year.

    He noted that the culture and tourism office in East Halmahera had made various preparations related to the visit of the scientists and tourists from several countries, such as accommodation, transportation, and the location where they will watch the rare phenomenon.

    Marsaoly said other areas, such as Ternate and Tidore Islands in North Maluku have also attracted many scientists and tourists from various countries to watch the total solar eclipse on March 9, 2016.

    He remarked that some two thousand tourists had already booked hotel rooms in Ternate, and the number is expected to grow to four thousand.

    “The number of foreign tourists visiting Halmahera in North Maluku to watch the total solar eclipse is definitely a blessing for this region as in addition to increasing the number of foreign tourist arrivals, it will also offer the necessary momentum to promote the local tourism potential,” he added.

    In the meantime, Head of the Culture and Tourism Office in Tidore Islands Asrul Sani Soleman stated that several scientists from the United States National Aeronautics and Space Administration (NASA) will also observe the total solar eclipse from the Tidore Islands, North Maluku province.

    Soleman noted that the scientists will observe the total solar eclipse from the Sultanate of Tidore Palace through a special binocular brought from NASA in the United States.

    The scientists have chosen Tidore Islands as the place to observe the total solar eclipse as it will be the ideal location, and they will be able to see the sun for a longer time period compared to other areas in North Maluku.

    He noted that along with the NASA scientists, hundreds of tourists from various countries will also arrive to witness the total solar eclipse at several locations, including Maitara Island, one of the tourist islands of Tidore.

    The tourists, who will come to watch the total eclipse in this area, are using the services of a travel agent from Bali and Jakarta or will arrive by yacht.

    “So far, there are four cruise ships, including from France, the United States, and Switzerland that have confirmed to make a stopover in Tidore,” Soleman revealed.

    The city administration of Tidore Islands has made preparations to welcome the scientists and tourists.

    The administration will also utilize their visit to promote the tourism potential of the area, including attracting investment.

    Siti Norma Mardjanu, the head of the tourism office in Central Sulawesi province, recently remarked in the provincial city of Palu that the local administration will conduct promotional activities regarding the total solar eclipse at numerous international airports in Indonesia.

    She remarked that the promotional activities highlighting the total solar eclipse will be carried out at the international airports in Medan, Jakarta, Surabaya, and Makassar.

    According to Siti, the promotion will not only spread awareness about the total solar eclipse but will also promote the tourism potential of Central Sulawesi.

    Siti said the activities to promote the total solar eclipse will be conducted by the Central Sulawesi provincial administration in December this year.

    Currently, approximately three thousand hotel rooms have been booked by foreign tourists, who want to witness the rare phenomenon in Palu, Luwuk, Ampana, and Poso.

    The total solar eclipse is expected to attract thousands of tourists, and therefore, it will motivate the local administration to develop its local tourism potential.

    A solar eclipse occurs when the moon passes between the earth and Sun. A total solar eclipse occurs when the moons apparent diameter is larger than the suns, blocking all direct sunlight, turning day into darkness.

    The total eclipse in March 2016 will occur in the narrow path across the earths surface, with the partial solar eclipse visible over a surrounding region that is thousands of kilometers wide, beginning in Indonesia, and ending in the northern Pacific Ocean.

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  • Malaysia’s Axiata Boosted by Overseas Business

    Malaysia’s Axiata Boosted by Overseas Business

    Malaysia’s Axiata says profits rose sharply in the second quarter, thanks to contributions from various overseas interests, and claims to have seen improvements in the markets of Malaysia and Indonesia, where it has been struggling amid fierce competition.

    Through its various subsidiaries and affiliates, Axiata Group Berhad serves about 260 million mobile subscribers in Asia, making it one of the region’s biggest operators by customer numbers.

    Axiata reported a 34.2% year-on-year increase in profits after taxation and minority interests, to 611 million Malaysian ringgits ($147.9 million), following strong contributions from subsidiaries in Sri Lanka, Cambodia and India.

    Difficulties in Malaysia and Indonesia triggered a 0.5% dip in revenues over the same period, to MYR4.7 billion ($1.14 billion), but the operator said that Malaysia’s Celcom Malaysia had grown its customer base for the first time since the third quarter last year and that Indonesia’s XL was also making good progress.

    Nevertheless, Dato’ Sri Jamaludin Ibrahim, Axiata’s president and CEO, said there is still work ahead before the operator could feel satisfied with its performance.

    “While Celcom’s IT transformation issues are generally resolved and we are making significant progress in regaining some goodwill that was lost last year, there is still more to be done,” he said in a company statement.

    Axiata blamed declines in the voice and text-messaging businesses for a dip in Celcom’s service revenue but also claimed to have added another 61,000 customers to its subscriber base in the quarter.

    Having launched a series of new pre- and post-paid tariffs, the operator said it is now “regaining market confidence.”

    Axiata serves about 12.3 million customers in Malaysia, down from 13.4 million in the second quarter of 2014, but still generates about 38% of its revenues in the country.

    Celcom believes that upgrades to its IT systems will help it to compete more effectively against rivals including Maxis Communications Bhd. and DiGi Telecommunications Sdn Bhd. , which appear to have been eating into its market share in recent quarters.

    A similar transformation program is under way at XL in Indonesia, where subscriber losses have been even more dramatic over the last year.

    Currently Indonesia’s third-biggest mobile operator, XL revealed that customer numbers fell to about 46 million in the second quarter from as many as 62.9 million in the same period last year.

    In local currency terms, revenues have dropped from 6.1 trillion Indonesian rupiahs ($439 million) to IDR5.6 trillion ($403 million) over the same period.

    XL says its current strategy is to focus on serving heavier-spending customers. It has booked a sharp increase in average revenue per user over the past year — up to IDR32,000 ($2.3) per month from IDR26,000 ($1.87) in the second quarter of 2014 — despite the overall sales decline.

    Axiata’s performance in the much smaller markets of Sri Lanka and Cambodia stood in sharp contrast to the setbacks at home and in Indonesia.

    Sri Lanka’s Dialog grew revenues to 17.7 billion Sri Lankan rupees ($130 million), from SLR16.7 billion ($120 million) in the second quarter of 2014, and saw its customer base balloon from 9.3 million to 10.1 million subscribers over the same period.

    In Cambodia, meanwhile, Axiata revealed that revenues have grown from MYR270 million ($65.4 million) in the first six months of 2014 to MYR420 million ($101.7 million) in the same period this year.

    Axiata was also boosted by the performance of Idea Cellular Ltd. , one of India’s biggest mobile operators, in which it owns a stake of about 20%.

    In its results presentation, the operator indicated that Idea contributed MYR102 million ($24.5 million) to its profit before taxation and minority interests in the second quarter — about a sixth of the total figure.

    Fueled by growth in India’s burgeoning mobile data market, Idea reported a 14% year-on-year increase in revenues in the April-to-June quarter.

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